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TPG reader Steven messaged me on Facebook to ask:
“Could you tell us how you manage your credit cards in terms of payment due dates and making sure you don’t miss a payment?”
Maintaining a pristine credit score is crucial if you plan to get multiple credit cards in order to earn a lot of points and frequent flyer miles. However, it can become dizzying having to pay lots of different cards with different due dates.
Personally (here’s a little self-promotion!), I use the TPG To Go App, which links up to all your different credit card accounts and alerts you when it’s time to pay your bills.
Another option is to set up auto-pay for all of your bills (which I also do). This works because I only spend what I can afford to pay off every month, and that’s important because if you get slammed with high interest fees, then you’re negating the value of any rewards you earned, and I’m all about maximizing the value of your points and miles and minimizing fees and out-of-pocket costs.
The TPG To Go app is free; however, there’s a premium version that will actually track your credit card spend as well as category and spend bonuses (like the British Airways Travel Together ticket on the British Airways Visa Signature Card). The app will actually let you know if you’re on track to hit your bonus, and alert you if you’ll be late on any of your bills or payments.
Another service I’ve used for years is Mint.com. It’s a great website for visualizing your money from a high level. Between all these resources, you should be able to ensure that your bills are paid on time. If you want to maintain a high credit score, make sure not to miss a payment, because paying your bills on time is one of the most important factors of your FICO score.
If you have any other questions, please tweet me @thepointsguy, message me on Facebook, or send me an email at email@example.com.